in case of Head office is in foreign eg. in us and it's branch operates in India so while conversion of currency why we need to divide it eg. (closing rate)1$=30 rs
and debtors =₹250000
so why we need to calculate like this. 250000÷30
1 Replies
Nisha Kochar
(Passed cpt)
(99 Points)
Replied 03 January 2019
because amount is to be converted into foreign currency i.e dollars as it is book of foreign branch
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